SAICO, a Saudi joint stock company, was established on the basis of a Royal Decree No. M/60 dated 18/09/1427H (11/10/2006) and Decision of the Council of Ministers No. 233 dated 16/09/1427H. It chose Riyadh to be the Head Office location. In the year 2010 the company obtained SAMA's approval to market insurance products. The company aims at practicing all relevant activities to insurance.